The firm of Wilson & McIntyre is proud to offer you their knowledgeable and friendly Norfolk bankruptcy attorneys, well versed in business as well as personal bankruptcy law. The primary purpose of bankruptcy law is to provide people with a fresh start through which their debts can be paid, restructured, or discharged.  For a free consultation, call us today.

To set up a free consultation with one of our attorneys, call us today at (757) 961-3900 or click here to send us an email.

What is Bankruptcy

Bankruptcy is a way that individuals and businesses can pay off or eliminate their debts with the help of the federal bankruptcy court. Filing for bankruptcy has allowed many individuals to escape their financial difficulties and work their way back towards financial success.

To learn more about bankruptcy call (757) 961-3900 to set up a free consultation with an attorney.

Chapter 7 Bankruptcy

WHAT IS A CHAPTER 7 BANKRUPTCY?

A Chapter 7 is a liquidation bankruptcy. When you file a Chapter 7, you can expect to eliminate most of your debts for a fresh start and stop wage garnishments, foreclosure actions, car repossessions and other stressful debt collection activities by your creditors. In a Chapter 7 case, the debtor will typically receive an order discharging most of his or her debts within three to four months.

You will be entitled to exempt certain assets from your bankruptcy estate, but if your assets exceed your allowable exemptions, the trustee appointed to your case might be required to sell those assets. Bankruptcy exemptions can be a complex area of law. Even though you can file a bankruptcy petition without a lawyer, using an experienced bankruptcy attorney can make the process run more smoothly and prevent you from making expensive mistakes.

Whether you are seeking a Norfolk Attorney, Virginia Beach Attorney, Chesapeake Attorney, or Newport News Attorney, Wilson & McIntyre can help. For a free consultation call us today.

Wilson & McIntyre represents consumer debtors in filing for bankruptcy relief under the United States Bankruptcy Code. As such, Wilson & McIntyre is a debt relief agency as defined in the Code.

Chapter 13 Bankruptcy

WHAT IS A CHAPTER 13 BANKRUPTCY?

A Chapter 13 is a “wage-earners” bankruptcy. When you file a Chapter 13 bankruptcy, you submit a plan to repay your debts over a three to five year period. The bankruptcy laws determine how much you will pay based on your income and expenses. At the end of the three to five year period, generally, all remaining unsecured debts will be discharged. Chapter 13 can save your home from foreclosure. In addition, Chapter 13 bankruptcy is an option when your income is too high to qualify for a Chapter 7 bankruptcy or when you have significant assets you would lose by filing a Chapter 7 bankruptcy. Chapter 13 can also be an effective way to pay tax debt without incurring additional interest and penalties.

WHO DO I HAVE TO PAY BACK IN A CHAPTER 13?

Secured Creditors: Oftentimes, you will continue to make your regularly scheduled payments for assets you want to keep (such as your home or car) during the Chapter 13 case. And, you will have the opportunity to cure arrearages or catch up on your late payments on your secured debts over the life of your Chapter 13 case.

Unsecured Creditors: Unsecured debts such as credit card bills, hospital bills and, in some cases, unsecured second or third mortgages may be paid back at just pennies on the dollar. In addition, Chapter 13 can be a smart strategy for handling amounts due to the IRS or other taxing authorities, since it allows you to repay many tax debts at 0% interest over the life of the plan without incurring additional late fees or penalties.

Please understand that all cases present a unique set of facts. The above is intended only as a general overview of the law and may not apply to your particular situation. We invite you to speak with one of our attorneys in order to get a complete assessment of your case. To contact us, please call (757) 961-3900 or send an email to dpower@wmlawgroup.com and let us explain the debt relief options available to you.

Whether you are seeking a Norfolk Attorney, Virginia Beach Attorney, Chesapeake Attorney, or Newport News Attorney, Wilson & McIntyre can help. For a free consultation call us today.

Wilson & McIntyre represents consumer debtors in filing for bankruptcy relief under the United States Bankruptcy Code. As such, Wilson & McIntyre is a debt relief agency as defined in the Code.

Where do I file Bankruptcy?

If you live in Chesapeake, Norfolk, Virginia Beach, Portsmouth, or Suffolk, you will file Bankruptcy in Norfolk*.

Bankruptcy falls under Federal law, and therefore is handled in Federal, not state, courts. For this reason, most people who live in Chesapeake, Norfolk, Virginia Beach, Portsmouth, or Suffolk will eventually file their bankruptcy petition in the Norfolk Bankruptcy Court — located only blocks from our office. Our close proximity to the Bankruptcy court is convenient and allows us to file your petition quickly and efficiently. We are proud to offer you our knowledgeable and friendly Bankruptcy attorneys, well versed in business as well as personal Bankruptcy law.

Wilson & McIntyre offers free consultations. If you are interested in learning more about Bankruptcy or would like to meet with a Bankruptcy attorney, give us a call today at (757) 961-3900 to set up an appointment, or click here to email us.

*Most of the time, if you live in Chesapeake, Norfolk, Virginia Beach, Portsmouth, or Suffolk, the proper division in which to file Bankruptcy is Norfolk. Situations can arise where the Norfolk Division would not be proper. Please consult with an attorney for more information about where to file.

How much does Bankruptcy Cost?

Fees for Filing Bankruptcy

Filing for Bankruptcy is a very personal experience. Everyone who files has a different set of circumstances that makes his or her petition unique. For this reason, to determine how much your Bankruptcy will cost, you should meet with an attorney and talk through all of your options and the fees involved.

The attorneys at Wilson & McIntyre offer free consultations and are more than happy to sit down with you and discuss the specifics of your financial situation, whether or not a Bankruptcy is in your best interest, and the fees required for filing your petition.

To set up a free consultation with one of our attorneys, call us today at (757) 961-3900 or click here to send us an email.